Cautious Optimism

GBP: The British Pound is gaining some traction, supported by the belief that the Bank of England will ease its monetary policy at a slower pace compared to other major central banks. On Friday, BoE Governor Andrew Bailey expressed cautious optimism about controlling inflation but emphasized that it's too soon to claim success.

EUR: Meanwhile, the Euro has declined due to recent data indicating a sluggish economic outlook in the Eurozone, leading to expectations of further rate cuts by the European Central Bank in September. The focus now shifts to the upcoming initial readings of German and Eurozone inflation data for August.

USD:?The U.S. Dollar saw a slight increase during Asian trading, following a 0.2% rise from the previous day’s 13-month low. However, its future remains uncertain, influenced by expectations of U.S. interest rate cuts, especially after dovish signals from the Federal Reserve. This uncertainty has boosted the appeal of risk-sensitive currencies, as investors are divided over whether the next rate cut will be 25 or 50 basis points in September.

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